This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various therapeutic agents. Its structure is particularly valuable in the development of antiviral and antibacterial drugs, where it serves as a building block for more complex molecules. Additionally, it plays a role in the creation of glycosidase inhibitors, which are important in the treatment of conditions like diabetes and viral infections. The compound's stereochemistry is crucial for its effectiveness, ensuring high specificity and potency in the final drug products.